WobblyWaffle
WobblyWaffle

Disclosure of Foreign Assets in ITR2

I own stocks of a previous employer which is US-based. I did not explicitly disclose Foreign Assets in any of my previous year returns, as I was not aware of it and the CAs on Cleartax never informed me of it. I am filing taxes myself this year and while doing so, came across this requirement. I am including assets purchased last year in this tax-filing season. What can I now do to report previous foreign assets that I got as part of my previous company CTC in previous years? Can I report now? Or is the schedule FA only for the duration of 2023 only?

6mo ago
Find out if you are being paid fairly.Download Grapevine
SparklyPanda
SparklyPanda
EY6mo

Start from now if you cannot revise.

WobblyNugget
WobblyNugget

Is it necessary to file sec 139 (8a) itr-u to add disclosure alone. Will there be any penalty for that?

Or as you said, disclosure in current filing is enough?

SparklyPanda
SparklyPanda
EY6mo

Required

Discover more
Curated from across